Apr.29 (GMM) The corners making up Silverstone's new formula one layout have been named.

On Thursday at the Northamptonshire venue, the 700 metre 'Arena' loop - to be used not only for MotoGP but also for the British grand prix on July 11 - was officially opened.

The new section - essentially two new straights linked by corners that bypass the old Bridge corner section - now boasts stretches dubbed Village, The Loop, Wellington Straight and Aintree.

The launch of the Arena section, which cost 5 million pounds, was attended by the likes of Red Bull's Christian Horner and Mark Webber, David Coulthard and Mercedes' Nick Fry.

British Racing Drivers' Club president Damon Hill said the new section provides "better viewing, greater capacity and more of a challenge", whilst retaining the high-speed nature of the famous circuit.

A new pit and paddock complex is planned for 2011, with the start-finish straight moved to the other side of the layout.

"We've reconfigured the shape of the circuit -- this is the first year of a two-year development," added 1996 world champion Hill, who on Thursday ferried Prince Andrew around the circuit in a two-seater F1 car.